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E-commerce giant Alibaba Group, which runs Taobao.com, has established a new business offering customers higher investment yields than interest from banks. Alibaba Group, founded in 1999, provides services for Internet users in countries and regions across the world. It announced at the end of 2012 that total transaction volume at the group's online shopping platform Taobao.com exceeded 1 trillion yuan by November, or 5.4 percent of the country's retail sales for consumer goods in 2011.
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  • By Wang Yanfei(China Daily)2017-10-19 07:34

    NetsUnion Clearing Corp, China's newly established clearing house for online payments supervised by the People's Bank of China, will clear half of the transactions that are expected to be made during the upcoming Nov 11 Singles Day shopping festival.The move comes as a blow to Alibaba-owned Alipay, ...

  • (chinadaily.com.cn)2017-10-19 06:51

    China is the sixth most cashless country in the world, according to a recent study from global trading site Forex Bonuses.The rankings took into account a raft of criteria, such as the number of credit cards per person, the number of debit cards per person, and the number of cards in issue with cont...

  • (Xinhua)2017-10-18 15:18

    A Wifi-equipped, self-charging robot which is responsible for transporting goods is pictured at the quicktron of the logistics arm Cainiao Network of Chinese e-commerce giant Alibaba Group in Huiyang district, Huizhou city South China's Guangdong province, October 17,2017. [Photo/IC]GUANGZHOU - Chi...

  • (chinadaily.com.cn)2017-10-16 07:04

    Tencent Holdings Ltd was hailed as No 1 Chinese internet company with best performance, followed by Alibaba Group and Baidu Inc as the second and third respectively, according to a list jointly released by Internet Society of China and the information center of Industry and Information Technology Mi...

  • By He Wei In Shanghai(China Daily)2017-10-12 07:51

    A logo of Ant Financial. [Photo/VCG]The cost of the new iPhone X may have caused furor around the world, but Zhao Qijun is not baulking at the $999 price tag."I hate to hesitate when I see something desirable. I need to have it now," said the 25-year-old."I regret not buying the iPhone 7 Plus. I rea...

  • By He Wei In Hangzhou(China Daily)2017-10-12 07:19

    An Alibaba employee introduces a virtual mirror during the company's annual computing conference in Hangzhou, capital of Zhejiang province, Oct 11, 2017. [Photo by Niu Jing/For China Daily]Alibaba Group Holding Ltd announced on Wednesday the launch of a global research academy that it hopes will joi...

  • By He Wei In Shanghai(China Daily)2017-10-12 07:10

    Unlike older consumers, today's Millennials are open to taking loans and paying via installment plans with just a few taps on their mobile The cost of the new iPhone X may have caused furor around the world, but Zhao Qijun is not baulking at the $999 price tag. "I hate to hesitate when I see somethi...

  • By Angus Mcneice In London(chinadaily.com.cn)2017-10-12 00:59

    Finland's biggest chain of department stores Stockmann agrees to install China's Alipay as one of its payment methods on Sept 1, 2017. [Photo/Xinhua]Payments made in European stores using the Chinese mobile payment app Alipay increased six-fold over this month's Golden Week, according to the tech co...

  • (chinadaily.com.cn)2017-10-11 14:18

    Jack Ma, founder and chairman of Alibaba Group, delivers a speech at the Computing Conference in Yunqi town, Hangzhou city, East China's Zhejiang province on October 11, 2017. [Photo/IC]How technology innovation will change our lives in the future is showcased at the Computing Conference in Yunqi to...

  • By Mirza Nasir Baig(chinadaily.com.cn)2017-10-11 10:30

    Chinese bike-sharing company Ofo Inc announced its official launch in four European countries — the Czech Republic, Italy, Russia and the Netherlands — as the company ramps up efforts to expand its booming cycle empire globally.[Photo provided to chinadaily.com.cn]The opinions expressed here are...

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